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CCC Intelligent Solutions

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, and AI-enabled digital workflows. The company generate revenue through the sale of software subscriptions and other revenue, primarily from professional services. The company has its presence in United States and China. Majority of the revenue is generated from United States.

CCC Intelligent Solutions Holdings Inc. - Common Stock

CCC Intelligent Solutions Holdings Inc

Kevin O'Leary is warning about how expensive <a href="https://www.benzinga.com/startups/24/07/39792500/kevin-oleary-believes-america-is-the-biggest-business-in-america-and-wants-executives-in-cabinet-tha">running a business in America</a> is becoming. In a recent Fox Business segment, O'Leary discussed how complicated rules and taxes are making it harder for companies across industries.
He also expressed hope that leaders like Elon Musk and Vivek Ramaswamy could bring about change by <a href="https://www.benzinga.com/money/how-to-reduce-taxable-income-for-high-earners">simplifying taxes</a> and reducing<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency"> unnecessary regulations</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If Elon and Vivek are able to simplify tax and deregulate the economy by just 30%, the cost savings would be huge. The cost I have to spend each year just to remain compliant increases about 20% per year. I've never seen cost escalation like I have in the past five years. <a href="https://t.co/0HcTRfpNeq">pic.twitter.com/0HcTRfpNeq</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1858624028568703280?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
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"If they just solved for simplifying tax and deregulated the economy, just say 30%, pulled some of that regulation out," O'Leary said. According to O'Leary, the costs associated with staying compliant – like paying auditors, consultants and lawyers – are going up by about 20% yearly. "The cost that I have to spend each year just to remain compliant goes up at about 20% a year between all the consultants, the auditors, the lawyers and the changing rules of regulation," he shared.
O'Leary explained that he operates across all 11 sectors of the economy and has never seen such an escalation in costs as he has in the last five years. He&#8217;s not alone either; many other business leaders share his concerns. He mentioned that if you spoke to the CEOs of the S&amp;P 500 companies, they would tell you these regulatory costs are among the most rapidly growing expenses they face.
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&#8220;There&#8217;s lots of room for efficiency, lots of room for action on that,&#8221; O&#8217;Leary said. By <a href="https://www.benzinga.com/personal-finance/24/10/41291074/dimon-calls-out-red-tape-says-its-deeply-frustrating-america-isnt-solving-its-problems">pulling back on the red tape</a>, businesses could save money and use it for other purposes, such as expanding their operations, hiring more staff or lowering consumer prices.
O&#8217;Leary hopes that by bringing in business-minded leadership – people like Elon Musk, who has already shown his ability to cut through inefficiencies at Twitter or Vivek Ramaswamy, known for his straightforward approach – the U.S. could reduce these burdens and give companies some much-needed breathing room.
However, not everyone is convinced that Musk and Ramaswamy are the right leaders for this challenge. Critics argue that while Musk&#8217;s methods at Twitter have been effective in certain areas, they have also been controversial and have led to disruptions. Some doubt whether his approach would translate well to government-level regulation involving a different scale and set of complexities.&nbsp;
Similarly, while appealing, <a href="https://www.benzinga.com/startups/24/11/42038767/im-one-of-you-how-anti-woke-warrior-vivek-ramaswamy-became-a-billionaire-at-only-38">Ramaswamy&#8217;s straightforward approach</a> may lack the nuance required to navigate the intricacies of federal regulations. There are concerns that oversimplification could lead to unintended consequences, potentially creating more issues than solutions.
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News

Costs Have Escalated Drastically, Warns Kevin O'Leary, Hopeful Elon And Vivek Can 'Simplify Tax And Deregulate The Economy'

Elon Musk sparked confusion online yet again – this time with his take on Argentina's new import tax cuts. Recently, Argentina&#8217;s President-elect Javier Milei announced a major policy change to reduce taxes on imports.&nbsp;
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As part of his economic reform plan, Milei wants to make imported goods more affordable. Starting in December, he will raise the tax-free limit on international purchases from $1,000 to $3,000. Personal imports will also get a tariff exemption of up to $400. This move is meant to open up the economy and make things easier for shoppers in Argentina.&nbsp;
Elon Musk seemed to think so. In response to a tweet discussing Milei&#8217;s idea, he expressed his support for the tax cut by simply saying, &#8220;Good move.&#8221;&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good move <a href="https://t.co/lrIevpBU3l">https://t.co/lrIevpBU3l</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857698387371397241?ref_src=twsrc%5Etfw">November 16, 2024</a></blockquote>
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The tweet caught a lot of attention as many people quickly called Musk out for what they saw as mixed signals – supporting a policy in Argentina that seems opposite to the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">U.S. import tariffs promoted by Donald Trump</a>, whom Musk has also publicly supported.
For instance, one user tweeted, &#8220;You supported the presidential campaign of the guy advocating for the largest tariff hike in modern U.S. history, lmao.&#8221; Another wrote, &#8220;Import taxes = tariffs. You support cutting them elsewhere and raising them here? Shameful hypocrisy.&#8221; Alex Cole added to the discourse, writing, &#8220;So removing tariffs is a good move and Donald Trump adding tariffs is also a good move? Bizarro world.&#8221;
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<h2 class="wp-block-heading">Different Countries, Different Needs?</h2>
Not everyone saw it as straight-up hypocrisy. Some X users argued that Musk's take could be valid if viewed in the context of Argentina's economy compared to the U.S.&nbsp;
<a href="https://www.benzinga.com/news/24/01/36597688/argentinas-inflation-was-around-200-in-2023-and-it-could-get-worse-in-2024-new-leadership-says-it-wi">Argentina is dealing with hyperinflation</a> and a major recession, so reducing import taxes might be a much-needed lifeline to help people afford basic goods. Dan Victor, a CFA, commented, &#8220;It&#8217;s different for the world&#8217;s largest economy compared to one suffering from a deep recession and hyperinflation.&#8221;
Another user pointed out that different countries might use different tools for different reasons. &#8220;Start by studying comparative economic policy. Then, once you understand that two completely different countries/economies implementing different policies is normal, this should make a little more sense.&#8221;
While some felt Musk was inconsistent, others believed his opinion could make sense given the drastically different economic situations of Argentina and the United States. The U.S. has a massive, stable economy, whereas Argentina is struggling to stabilize itself amid economic turmoil.
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'Bizarro World' – People Are Really Confused By Elon Musk Praising Argentina's Javier Milei Slashing Import Taxes

Satellite images have reportedly revealed that Russia has supplied North Korea with over one million barrels of oil since March, violating United Nations sanctions that <a href="https://www.benzinga.com/news/24/10/41561980/zelensky-sounds-alarm-on-potential-north-korean-involvement-in-ukraine" target="_blank" rel="noreferrer noopener">restrict oil sales to North Korea</a>.
These transfers are part of a broader arrangement in which North Korea sends weapons, artillery shells, and even troops to aid Russia&#8217;s war in Ukraine, the BBC <a target="_blank" href="https://www.bbc.com/news/articles/cjr4pr0gyyzo" rel="noreferrer noopener">reports</a>.
The oil deliveries, tracked by the UK-based Open Source Centre, are seen as a direct quid pro quo for North Korea&#8217;s military support, with the oil serving to fuel Pyongyang&#8217;s own operations and provide stability amid ongoing sanctions.
According to satellite imagery analyzed by UK-based non-profit research group the Open Source Centre and shared exclusively with the BBC, North Korean oil tankers have made 43 trips to Russia&#8217;s Far East, with vessels arriving empty and leaving full.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42115069/warren-buffett-is-set-to-collect-776-million-in-coca-cola-dividends-but-daughter-says-his-wife-buys-him-the-soda-on-sale" rel="noreferrer noopener">Warren Buffett Is Set To Collect $776 Million In Coca-Cola Dividends – But Daughter Says His Wife Buys Him The Soda &#8216;On Sale&#8217;</a>
Despite UN sanctions capping the amount of oil North Korea can receive at 500,000 barrels per year, Russia&#8217;s illicit shipments have far exceeded this limit, with experts estimating more than a million barrels have been supplied since March.
The BBC added that these transfers not only breach UN sanctions but also involve ships that are themselves under sanction, some of which should have been impounded upon entering Russian waters, citing Go Myong-hyun, a senior research fellow at South Korea&#8217;s Institute for National Security Strategy.
The situation marks a new level of contempt for international regulations, as Russia has actively circumvented the UN panel responsible for monitoring such violations, disbanding it through its veto at the Security Council in March.
Experts worry this cooperation between two autocratic regimes may lead to even more dangerous collaborations, potentially involving military technology transfers that could further destabilize the region, the BBC adds.
While the oil deliveries provide crucial fuel for North Korea&#8217;s military, which relies on oil for its missile launchers and munitions factories, concerns are growing over the potential for more military technology exchanges, particularly in satellite and ballistic missile advancements. 
Both the US and South Korea are closely monitoring the evolving ties between Russia and North Korea, with the possibility of these exchanges further threatening global security.
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Image: Shutterstock

Politics

Markets

Media

General

Satellite Images Reveal North Korea Reportedly Receiving Illicit Oil from Russia

Elon Musk on Saturday shared a cryptic tweet on X, hinting at a significant turning point in human history.
What Happened: Musk&nbsp;responded to a post on X by Bojan Tunguz, which referred to an unspecified event as &#8220;one of the major inflection&nbsp;points of human history.&#8221; Musk&#8217;s reply was enigmatic, stating, &#8220;I knew if I brought&nbsp;a sink they would have&nbsp;to let that sink in.&nbsp;How could they not?&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I knew if I brought a sink they would have to let that sink in. How could they not? <a href="https://t.co/voEVBMC7Ht">https://t.co/voEVBMC7Ht</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860199022121943545?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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The Tesla and SpaceX CEO&#8217;s post on X has left his followers intrigued, as they attempt to decipher the meaning behind his cryptic words.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152684/musk-tweet-sparks-dogecoin-surge-fuels-speculation-on-x-payments">Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments</a>
Why It Matters: Musk is known for his cryptic tweets, which often lead to widespread speculation. His recent tweet, which suggests a significant turning point in human history, has sparked a flurry of theories among his followers.
While the exact meaning behind Musk&#8217;s tweet remains unclear, it underscores his reputation as a thought leader in the tech industry, known for pushing boundaries and challenging conventional thinking.
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Social Media

Tech

"I Knew If I Bought a Sink": What Does Elon Musk's Cryptic Tweet Mean?

President-elect Donald Trump is preparing a sweeping plan to reshape the Department of Justice (DOJ) and direct the department to investigate claims that the 2020 election was rigged against him when he <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market">assumes office in January</a>.
What Happened: According to a report, Trump plans to dismiss Special Counsel Jack Smith and other DOJ employees who investigated allegations of voter fraud in the 2020 election, despite the lack of evidence supporting such claims.
The proposed changes come as Trump continues to challenge the legitimacy of President Joe Biden's victory. Trump's plans, aimed at targeting investigations into unfounded voter fraud claims, <a href="https://www.washingtonpost.com/national-security/2024/11/22/trump-jack-smith-prosecutors-firing-justice-department-investigation/?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=wp_main">reports</a> The Washington Post.
Smith, who has been leading federal investigations into Trump's alleged attempts to overturn the 2020 election and his handling of classified documents, could see his tenure cut short under a second Trump administration. 
According to the report, Smith&nbsp;has already announced that&nbsp;he would resign from the department before Trump begins his second term, ending the election interference and classified documents cases against the president-elect.
Trump's legal troubles include multiple indictments, with some stemming from Smith's probes.
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"President Trump campaigned on firing rogue bureaucrats who have engaged in the illegal weaponization of our American justice system, and the American people can expect he will deliver on that promise," press secretary Karoline Leavitt said in a statement.
The former president's proposed DOJ overhaul also involves investigating claims of election fraud that have been repeatedly debunked by courts and bipartisan officials. 
Why It Matters: Legal experts warn that using the DOJ to pursue baseless allegations risks undermining the department's credibility and its independence. Critics argue such actions could set a dangerous precedent by politicizing federal investigations to serve partisan interests.
Trump has made challenging the 2020 election results a central theme of his campaign. His rhetoric continues to resonate with supporters, while drawing criticism from opponents and legal scholars.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

Trump Plans DOJ Overhaul Including Firing of Jack Smith's Team

President-elect Donald Trump has selected Russell Vought, co-author of the conservative policy agenda Project 2025, as director of the <a target="_blank" href="https://www.benzinga.com/news/24/11/42024583/world-bank-worries-over-budget-cuts-after-24b-mishap-trump-win" rel="noreferrer noopener">Office of Management and Budget (OMB) in his second term.</a>
Vought previously served as OMB&#8217;s deputy director during Trump&#8217;s first term. But his influence extends beyond OMB. He wrote the chapter on the Executive Office of the President in Project 2025, a conservative policy framework developed by The Heritage Foundation, The Hill <a href="https://thehill.com/homenews/campaign/5005710-trump-picks-project-2025-author-russell-vought-to-lead-budget-office/" target="_blank" rel="noreferrer noopener">reports</a>.
&#8220;He did an excellent job serving in this role in my First Term &#8211; We cut four Regulations for every new Regulation, and it was a Great Success!&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113529338208908362" target="_blank" rel="noreferrer noopener">wrote</a> in a post on Truth Social on Friday. &#8220;We will restore fiscal sanity to our Nation.&#8221;
Trump praised Vought&#8217;s experience in public policy, describing him as an aggressive cost-cutter and deregulator who would help advance the &#8220;America First&#8221; agenda across federal agencies.
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The president-elect emphasized Vought&#8217;s knowledge of dismantling the so-called &#8220;Deep State&#8221; and restoring self-governance to the American people, alongside a promise to restore fiscal discipline.
In response to the selection, Vought <a href="https://x.com/russvought/status/1860121532758204758?prefetchTimestamp=1732383856583" target="_blank" rel="noreferrer noopener">posted</a> on X, &#8220;There is unfinished business on behalf of the American people, and it&#8217;s an honor of a lifetime to get the call again.&#8221;
Project 2025, which includes input from scholars and policy experts, proposes sweeping changes such as reshaping the executive branch and reducing the size and funding of certain government agencies.
While Trump previously distanced himself from Project 2025 during his campaign, citing its controversial elements, his decision to appoint Vought as OMB director signals a strong alignment with its conservative priorities. The project has faced significant backlash from Democrats, who argue it threatens American democratic institutions.
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Trump Picks Project 2025 Co-Author Russell Vought for OMB

Gov. Gavin Newsom (D-Calif.) has unveiled the framework for the California Jobs First Economic Blueprint, a comprehensive strategy aimed at fostering job creation and <a href="https://www.benzinga.com/markets/cannabis/24/10/41547103/new-rules-old-challenges-californias-cannabis-industry-grapples-with-regulations" target="_blank" rel="noreferrer noopener">regional economic growth across the state</a>.
The blueprint focuses on building a sustainable economy by directing investments into ten key industry sectors, with a focus on innovation, sustainable growth, and access to good-paying jobs, per a <a href="https://www.gov.ca.gov/2024/11/21/regional-economic-development-plans/" target="_blank" rel="noreferrer noopener">release</a> on the Governor&#8217;s official website.
The full plan will be released early next year, alongside $120 million in funding to support job-creating projects over the next three years.
Speaking in Fresno alongside community leaders and business owners from the Central San Joaquin region, Newsom said that this bottom-up approach, developed through extensive community input, would help shape the future of California&#8217;s economy.
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&#8220;From agriculture to clean energy to manufacturing and everything in between, these blueprints will foster growth and expansion throughout every community of California,&#8221; Newsom said.
More 10,000 local residents and experts participated in identifying priority sectors that will drive regional economies.
The framework categorizes California&#8217;s economy into four key segments:
<ul>
<li>Strengthen (established sectors with leveling growth)</li>
<li>Accelerate (growing sectors poised for expansion with strategic investments)</li>
<li>Bet (emerging sectors with high investment potential), and</li>
<li>Anchor (foundational sectors that support broader industry and community activities). </li>
</ul>
According to Newsom, this approach will ensure that both current and future industries provide good, well-paying jobs for Californians, particularly in underserved communities.
As part of the California Jobs First initiative, the blueprint also emphasizes workforce development. Through this effort, California is focusing on ensuring its workforce is well-prepared to meet the specific needs of priority industries.
The state has also invested heavily in training programs, with over $4 billion in state funding directed towards workforce development, apprenticeship, and education initiatives.
Newsom&#8217;s plan builds on previous efforts, such as the Community Economic Resilience Fund (CERF) and the Regional Investment Initiative, which collectively aim to create high-quality, accessible jobs across all 13 of California&#8217;s regions.
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Newsom Unveils Economic Blueprint To Ignite Job Growth, Sees 'Expansion Throughout Every Community of California'

Billionaire Elon Musk on Saturday shared a post on X  which said &#8220;The people want the Diddy &amp; Epstein Files.&#8221; Later he shared his perspective by saying &#8220;Yes&#8221; on the post.
Last month, President-elect Donald Trump stated that he would be open to releasing additional files concerning convicted sex trafficker Jeffrey Epstein if he were to return to the White House.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes. <a href="https://t.co/8PEeBHCNod">https://t.co/8PEeBHCNod</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860202873218564568?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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This is not the first time Musk has raised his concern around this issue. Last year Musk raised the question on Twitter, asking why the&nbsp;Department of Justice&nbsp;had not leaked&nbsp;Epstein and Ghislaine Maxwell&#8216;s list of clients and why the media didn&#8217;t seem to care to look into the clients&#8217; identities.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Only thing more remarkable than DOJ not leaking the list is that no one in the media cares. Doesn't that seem odd? <a href="https://t.co/JEK4TErABB">pic.twitter.com/JEK4TErABB</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1533161114586042369?ref_src=twsrc%5Etfw">June 4, 2022</a></blockquote>
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Earlier this year, Mark Epstein, the younger brother of disgraced financier Epstein, has alleged that his brother possessed information that could have influenced elections involving Trump and the Clintons.
Also Read: <a href="https://www.benzinga.com/news/24/10/41220104/elon-musk-says-billionaires-supporting-kamala-harris-are-scared-epstein-list-will-be-made-public-if">Elon Musk Says Billionaires Supporting Kamala Harris Are Scared Epstein List Will Be Made Public If Trump Returns To Power</a>
A Manhattan court has released a list of people connected to Jeffrey Epstein, which has raised eyebrows and intensified speculation. Some of the 187 individuals previously only identified as "J Doe" in court papers have been identified, but other names reportedly remained sealed, including those of underage victims.
Musk's remarks have sparked mixed reactions, with some praising his call for justice and others questioning his involvement in such discussions. Known for engaging with hot-button topics, Musk often uses his platform to address societal and legal issues.
In December 2021, Maxwell was found&nbsp;<a href="https://www.dailywire.com/news/ghislaine-maxwell-jeffrey-epsteins-former-girlfriend-found-guilty-in-sex-abuse-trial" target="_blank" rel="noreferrer noopener">guilty</a><a href="https://www.benzinga.com/news/21/12/24823587/epstein-associate-ghislaine-maxwell-found-guilty-of-5-charges-in-sex-trafficking-case" target="_blank" rel="noreferrer noopener">&nbsp;of helping to recruit teenage girls</a>&nbsp;for&nbsp;Epstein, who&nbsp;died in August 2019.
Maxwell, known as&nbsp;&#8220;Inmate 02879-509&#8221; while incarcerated,&nbsp;is currently serving her sentence at the Federal Correctional Institution&nbsp;in Tallahassee, Florida.&nbsp;
Read Next
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Elon Musk Agrees That People Want To See Jeffrey Epstein Files

Rep. Lori Chavez-DeRemer (R-Ore.), a moderate who lost her House seat this month, has been <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">selected by President-elect Donald Trump</a> to lead the Labor Department in his new term.
Trump praised Chavez-DeRemer, who first won her seat with just 51% of the vote in 2022 and lost it by a two-point margin this year, for her work with both business and labor groups to support American workers, The New York Times <a href="https://www.nytimes.com/2024/11/22/business/economy/labor-secretary-lori-chavez-deremer-trump.html" target="_blank" rel="noreferrer noopener">reports</a>.
Following Trump&#8217;s announcement, National Education Association President Becky Pringle acknowledged Chavez-DeRemer&#8217;s legislative record in the House, per a <a href="https://apnews.com/article/trump-cabinet-labor-secretary-lori-chavezderemer-feaa4672efac644aa60722d3a3215df1" target="_blank" rel="noreferrer noopener">report</a> from AP News.
However, Pringle indicated that educators and working families would closely monitor the confirmation process and hoped Chavez-DeRemer would commit to supporting workers and students.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42151529/chamath-palihapitiyas-suggestion-for-donald-trump-make-paying-taxes-simple-and-enforcement" rel="noreferrer noopener">Chamath Palihapitiya&#8217;s Suggestion For Donald Trump: &#8216;Make Paying Taxes Simple And Enforcement…&#8217;</a>
Though not a major figure in labor politics, Chavez-DeRemer garnered significant union support during her campaign. She shared endorsements with her Democratic opponent, Janelle Bynum, earning the backing of groups like the Teamsters, firefighters, and ironworkers.
House Speaker Mike Johnson, who spoke at one of Chavez-DeRemer&#8217;s rallies, remarked that she received more union endorsements than any Republican he had ever seen, The New York Times added.
While labor leaders criticized Trump&#8217;s labor policies during his first term, Chavez-DeRemer&#8217;s selection was praised by some in the labor movement. Sean O&#8217;Brien, president of the Teamsters, who had been in contact with Trump throughout the campaign, called her appointment a step toward creating more union jobs. Chavez-DeRemer, whose father was a Teamster, has emphasized her work on the fentanyl crisis and law enforcement during her campaign.
As labor secretary, Chavez-DeRemer will face the challenge of possibly reversing Biden-era policies, which focused on expanding worker protections, including new overtime eligibility and protections for gig workers.
Under Trump, it&#8217;s expected that many of these measures could be rolled back, alongside stricter enforcement of child labor laws and worker classification regulations, per The New York Times.
The Labor Department&#8217;s approach to immigrant workers and workplace safety could also shift, reflecting the broader policy changes anticipated under a second Trump term.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump's DOGE Initiative To Have ‘Marginal Impact' Says Analyst As Elon Musk Aims To Target Over $500B In Federal Expenditures</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons

Trump Taps Teamsters-Backed Chavez-DeRemer For Labor

The Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck may be able to add President-elect Donald Trump to the list of celebrities who are fans of the unique electric vehicle after a recent <a href="https://www.benzinga.com/general/space/24/11/42058175/trump-may-attend-elon-musks-starship-test-flight-in-texas-on-tuesday-report">visit to SpaceX</a>.
What Happened: The Cybertruck has attracted purchases from Tesla fans, <a href="https://www.benzinga.com/general/entertainment/24/03/37852639/tesla-cybertruck-the-new-celebrity-fashion-accessory-steve-aoki-big-sean-latest-to-own-ev">celebrities</a> and even been bought by <a href="https://www.benzinga.com/news/24/10/41246431/after-shaq-jay-z-beyonce-and-others-tesla-cybertruck-joins-joins-irvine-police-departments-fleet-wil">some police departments</a>.
President-elect Trump recently traveled to Starbase in Texas to watch the sixth flight test of SpaceX's Starship, where he also interacted with Tesla CEO and friend Elon Musk.
While pictures and videos of the visit have gone viral online, one of the items investors might be paying attention to is a video of a Cybertruck being in Trump's motorcade.
"Cybertruck in the motorcade on Starbase," Trump's Deputy Director of Communications Margo Martin tweeted with a video.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cybertruck in the motorcade on Starbase &#x1f680;&#x1f1fa;&#x1f1f8; <a href="https://t.co/8u6ZtZeJW1">pic.twitter.com/8u6ZtZeJW1</a>
&mdash; Margo Martin (@margomartin) <a href="https://twitter.com/margomartin/status/1859021962510823902?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
While it's unknown who was in the Cybertruck, the Tesla vehicle stood out as it was in the convoy of police and armored vehicles
You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/24/11/42144099/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-44">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Given the importance to protect Trump during travel given past assassination attempts on his life, the use of a Cybertruck in the convoy could signal the trust in the stainless steel vehicle said to be bulletproof. &nbsp;
Investors will be watching to see if Cybertrucks could make their way into the president's convoy going forward or if this was only due to the close proximity to the SpaceX location.
Trump<a href="https://www.benzinga.com/news/24/08/40179186/youtuber-gifts-trump-a-tesla-cybertruck-with-custom-wrap-of-his-pennsylvania-rally-shooting-incident"> was previously gifted </a>a Cybertruck wrapped with an image of himself and featuring the words "Make America Great Again" on the hood by YouTuber Adin Ross.
"That's an Elon. That is beautiful," Trump said when he saw the vehicle.
Read Next: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/09/40736498/elon-musks-blade-runner-inspired-cybertruck-now-serves-pizza-on-the-side">Elon Musk&#8217;s &#8216;Blade Runner&#8217;-Inspired Cybertruck Now Serves Pizza On The Side</a></li>
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TSLA

Tesla Cybertruck Part Of Donald Trump's Motorcade, Will Vehicle Land Government Deals?

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) experienced a 5% surge following a tweet by Elon Musk on X. This has sparked fresh speculations about the imminent payments service on Musk&#8217;s social app.
What Happened: Musk&#8217;s Friday post, which featured a screenshot of podcaster Joe Rogan&#8217;s X profile, triggered the increase in Dogecoin&#8217;s price. 
The post displayed a unique dollar icon, different from the app&#8217;s tipping service, leading to speculations that it could be related to the anticipated X Payments service.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Have to say that <a href="https://twitter.com/joerogan?ref_src=twsrc%5Etfw">@joerogan</a>'s profile description is awesome &#x1f602; <a href="https://t.co/6Z8hUAQIBj">pic.twitter.com/6Z8hUAQIBj</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1859930496278368525?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk responded to the speculation with a simple &#8220;true&#8221;, further fueling the rumors. Dogecoin&#8217;s price has historically been influenced by payment-related news from any of Musk&#8217;s ventures, including X, formerly known as Twitter.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">True
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860003103518732614?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
There are speculations that once the service is live, it might support transactions with digital assets like DOGE, given Musk&#8217;s known fondness for the token. 
Musk&#8217;s electric car company, already accepts DOGE payments for certain merchandise purchases in its online store.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429878/dogecoins-active-users-on-the-rise-will-this-impact-doge-price">Dogecoin&#8217;s Active Users On The Rise, Will This Impact DOGE Price?</a>
Over the past 24 hours, DOGE has advanced 6.16% and at the time of writing it was trading at $0.4332, outperforming the stagnant Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices. The token has risen 190% over the past month, trading at its highest level since May 2021.
Why It Matters: The surge in Dogecoin&#8217;s price following Musk&#8217;s tweet is significant as it highlights the influence Musk has over the cryptocurrency market. 
His tweet sparked speculations about the forthcoming X Payments service, which could potentially support transactions with digital assets like DOGE. 
This is particularly noteworthy given Musk&#8217;s known fondness for the token and the fact that his electric car company, Tesla Inc., already accepts DOGE payments for certain merchandise purchases. 
The rise in DOGE&#8217;s price also outperformed the stagnant bitcoin prices, indicating a growing interest in alternative cryptocurrencies.
Read Next
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$DOGE

DOGE

Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments

The <a href="https://www.benzinga.com/topic/dea">Drug Enforcement Administration </a>(DEA) has been barred from conducting random searches of travelers&#8217; belongings at airports and transit hubs following a Justice Department investigation that exposed corrupt practices. The investigation, led by Inspector General Michael Horowitz, uncovered failures to properly document searches, potential racial profiling and questionable partnerships with airline employees. 
One airline worker reportedly received tens of thousands of dollars over several years as a kickback for flagging passengers based on travel patterns, such as purchasing last-minute tickets. 
"The DOJ Office of the Inspector General (OIG) found that the DEA has repeatedly failed to comply with its own policies, creating significant operational and legal risks," according to the <a href="https://oig.justice.gov/news/doj-oig-releases-management-alert-identifying-concerns-deas-transportation-interdiction">report</a>.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/07/33156524/dea-turns-50-unveiling-the-ineffectiveness-of-the-ongoing-war-on-drugs-now-what">$1 Trillion And 50 Years Later, Is The DEA&#8217;s War On Drugs A Failure?</a>
The decision to suspend the searches was issued on November 12 by the deputy attorney general after reviewing the draft report. The Justice Department's memo restricts DEA agents from engaging in consensual encounters at transit locations unless tied to active investigations or approved under special circumstances.
<h2 class="wp-block-heading">Systemic Corruption</h2>
The report follows a widely circulated video released by the <a href="https://ij.org/press-release/department-of-justice-suspends-controversial-airport-interdictions-after-viral-footage-showing-dea-agents-threatening-abusing-innocent-traveler/">Institute for Justice</a> (IJ), a nonprofit civil rights organization. One case cited in the memo involved a traveler approached by a DEA Task Force Officer at an airport. The video shows a traveler, identified as David C., refusing to consent to a search at an airport. Despite his objections, agents took his backpack, claimed a drug-detection dog alerted them and conducted the search, which yielded no illegal items. The delay, which caused David to miss his flight, resulted in widespread public criticism.
Further investigation revealed systemic issues. The DEA rarely documents its searches unless they result in seizures or arrests, making it impossible to determine how many travelers have been impacted. In one case, musician Brian Moore had $8,500 seized at an airport, money intended for a music video project. He was never charged with a crime but spent a year and $15,000 in legal fees to recover his funds. Moore said the experience ruined his music career.
A 2016 <a href="https://www.usatoday.com/story/news/2016/08/10/dea-travel-record-airport-seizures/88474282/">USA Today investigation</a> found that DEA agents seized over $209 million from more than 5,200 travelers at 15 major airports over a decade, with most funds shared with local police. Critics argue these practices incentivize unconstitutional searches for profit.
The Institute for Justice has since sued the DEA and TSA, advocating for legislation to eliminate these financial incentives. The DEA has yet to respond to the findings.
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Photo: Courtesy of DEA

Cannabis

Government

DEA Banned From Random Airport Searches After Scathing Justice Department Report Uncovers Corruption

A federal judge dismissed the U.S. Securities and Exchange Commission's (SEC) request to penalize Elon Musk for skipping a court-ordered deposition in its investigation into his $44 billion acquisition of Twitter, now known as X.
What Happened: On Friday, Judge Jacqueline Scott Corley of the U.S. District Court in San Francisco determined that sanctions were unwarranted after Musk complied by testifying on Oct. 3 and agreed to reimburse the SEC's travel costs of $2,923, reports Reuters.
The SEC sought sanctions for Musk's failure to attend a Sept. 10 deposition as ordered, contending that merely covering travel costs would not deter individuals from ignoring court directives, particularly someone of Musk's financial stature. According to Forbes, Musk's net worth stands at $321.7 billion.
"Because the present circumstances forestall any occasion for meaningful relief that the court could grant, the SEC's request is moot," Corley wrote in the verdict.
Musk defended his actions, stating he had fulfilled the court's requirements by testifying in October. On Sept. 10, he was in Cape Canaveral, Florida, overseeing SpaceX's Polaris Dawn mission.
Also Read: <a href="https://www.benzinga.com/news/24/09/40866970/new-book-reveals-elon-musks-twitter-buy-fumble-and-mix-up-over-grimes-baby-name">New Book Reveals Elon Musk&#8217;s Twitter Buy Fumble And Mix-Up Over Grimes&#8217; Baby Name</a>
The SEC is probing whether Musk violated securities regulations by delaying disclosure of his Twitter stock purchases in early 2022. 
After the decision, Musk expressed his triumph on X . He responded to a post from a user who applauded his success against the SEC. Musk responded to the user saying, "SEC. The middle word is definitely ‘Elon's,' but I can never remember what the other two words stand for."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">SEC. The middle word is definitely "Elon's", but I can never remember what the other two words stand for &#x1f914;. <a href="https://t.co/ZZiPyXecZk">https://t.co/ZZiPyXecZk</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860210546345419261?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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</figure>
The regulator claims Musk waited at least 10 days longer than required, allowing him to acquire shares at lower prices before revealing his 9.2% stake and later announcing plans to buy the platform outright.
In July, Musk admitted misunderstanding SEC disclosure rules, calling his actions a "mistake."
What It Matters: This is not Musk's first legal clash with the SEC. In 2018, the agency sued him over Twitter posts about taking Tesla Inc. private. Musk settled by paying a $20 million fine, stepping down as Tesla's chairman, and agreeing to have company lawyers vet certain tweets in advance.
The case, SEC v. Musk, is being heard in the U.S. District Court for the Northern District of California.
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Judge Rejects SEC Bid to Penalize Musk Over Missed Deposition

The third and final monthly contest in Benzinga's paper trading competition powered by TradeZero kicked off on Nov. 15, giving contestants a chance to take home over $15,000 in cash and prizes as part of the more than $30,000 in cash and prizes offered during <a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">the three-month run</a>.
The current leader of the third contest has posted an impressive gain, but as past contests have shown, it's still anyone's game.
The Contests:&nbsp;Powered by&nbsp;TradeZero, the&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">World Championship of Trading</a>&nbsp;is the ultimate trading competition for investors to prove their keen eye during a three-month time period.
Contestants start each contest with a paper balance of $100,000. Each investor will have around one month to generate the highest profits from a starting balance of $100,000 in a simulated trading account.
Contestants in the World Championship of Trading will have access to Benzinga's Live Squawk product.
Investors will also gain exposure to TradeZero's newly patented short-selling tools.
Here's the leaderboard for the second contest through Nov. 22:
1st: James C.: $2,194,368.83
2nd: Mayank B.: $594,080.03
3rd: Willis R.: $357,886.00
All of the top 10 traders on the leaderboard have a balance of at least $226,000, gaining over 126% during the contest.
The leaderboard features some familiar names from past monthly contests. People who have followed the contests also know that the leaderboard often changes from the first week to the last week, meaning it's not too late to sign up and compete before the Dec. 8 deadline and the contest end date of Dec. 14.
Past Leaders: Benzinga<a href="https://www.benzinga.com/politics/24/11/41957889/benzinga-world-championship-of-tradings-top-trader-up-over-7000-thanks-to-2024-election-tesla-options"> recently talked to</a> first-place leader Sebastian N from the second monthly contest to find out more about how he generated the huge gains in a short time.
&#8220;I was definitely waiting for the election,&#8221; Sebastian told Benzinga. &#8220;To win this contest you gotta go big.&#8221;
Knowing that Tesla Inc CEO Elon Musk had endorsed Donald Trump and the stock could gain from a Trump win, Sebastian said he tracked the electric vehicle stock.
The trader said the stock was already breaking out before the election and seemed like it was going to continue moving higher. Sebastain bought Tesla calls and made it the biggest trade he had made during the contest.
&#8220;If Trump wins, we&#8217;re gonna do well,&#8221; Sebastian said, recalling his trades.
The trader said he sold the Tesla calls shortly after Trump won the election, netting a large profit in the paper trading contest, but admits he could have made an even larger gain if he held onto them for longer.
Sebastian&#8217;s advice for anyone entering the third and final contest is to remember that the leaderboard is constantly changing and you can still win the contest.
&#8220;No matter where you are on the leaderboard, you can always improve on your trading.&#8221;
Andrea S., the winner of the first contest, went from $100,000 to more than $1 million in the paper trading account in&nbsp;<a href="https://www.benzinga.com/exclusives/24/10/41240862/benzinga-world-championship-of-trading-powered-by-tradezero-1-contestant-up-988-in-3-weeks-join-now" target="_blank" rel="noreferrer noopener">less than a month.</a>
Benzinga previously&nbsp;<a href="https://www.youtube.com/live/DjRmtokM2YQ?si=V0zxoFo4dHh0jPGT&amp;start=3615" target="_blank" rel="noreferrer noopener">interviewed&nbsp;</a>Andrea S., who was in the top 10 for most of the contest and was in first place several weeks.
Contest Rules:&nbsp;The contest is open to residents of the United States and Canada who are 21 years of age or older.
Traders will be able to buy simulated equities and options from U.S. markets during the contest periods starting with a balance of $100,000. No fractional shares will be allowed. Traders have to hold a minimum of one stock or option throughout the contest. A minimum of five days of one trade or more must be completed throughout each contest.
Interested investors have been able to&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">sign up to join</a>&nbsp;the contest since Friday, July 26. Signing up for the first contest will automatically register an entry in the second and third contests. Traders can sign up for the contests after the start dates as long as it is before a cutoff deadline.
The dates for the&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">contests</a>&nbsp;are listed below:
<ul>
<li>Contest 1: Sept. 15 through Oct. 14</li>
<li>Contest 2: Oct. 15 through Nov. 14</li>
<li>Contest 3: Nov. 15 through Dec. 14</li>
</ul>
The last days to register for the remaining contests are at 9 a.m. ET on Nov. 7 and Dec. 8.
Read Also:&nbsp;<a href="https://www.benzinga.com/news/events/24/11/42078635/exclusive-wall-street-meets-main-street-fintech-experts-weigh-in-on-retails-rise" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Wall Street Meets Main Street — Fintech Experts Weigh In On Retail&#8217;s Rise</a>
Contest Prizes: Participants have the chance to win as much as $30,000 in cash and prizes during the contests. Travel and expenses will not be paid for the NYSE tour prizes.
Here are the prizes for the World Championship of Trading.
Contest 1:
<ul>
<li>First Place: $5,000 cash, lifetime of&nbsp;<a href="https://pro.benzinga.com/feature/newsfeed/?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348" target="_blank" rel="noreferrer noopener">Benzinga Pro Essential,</a>&nbsp;tour of the NYSE and lunch for two at the NYSE.</li>
<li>Second Place: $1,000 cash, one year of Benzinga Pro Essential.</li>
<li>Third Place: $500 cash, one year of Benzinga Pro Essential.</li>
</ul>
Contest 2:
<ul>
<li>First Place: $10,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.</li>
<li>Second Place: $2,000 cash, one year of Benzinga Pro Essential.</li>
<li>Third Place: $1,000 cash, one year of Benzinga Pro Essential.</li>
</ul>
Contest 3:
<ul>
<li>First Place: $15,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.</li>
</ul>
Find out more at the&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">World Championship of Trading site</a>.
Read Next:
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<li><a href="https://www.benzinga.com/top-stories/24/11/41718416/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-october-2024-where-do-tesla-nvidia-apple-d" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In October 2024 — Where Do Tesla, Nvidia, Apple, DJT Stock Rank?</a></li>
</ul>
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Large holders of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) have been making significant moves, with Dogecoin whales recently buying up 550 million DOGE tokens, valued at $214.5 million, in one day.
What Happened: The transactions, recorded on blockchain monitoring services, highlight the growing activity among Dogecoin's biggest investors. 
Blockchain experts note that such whale movements often signal potential market shifts, as these transactions can precede either price rallies or sell-offs. 
The transfers occurred amid a period of relative stability for Dogecoin, trading near $0.056 at the time of the transactions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> whales have bought more than 550 million <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> over the past week, worth around $214.5 million! <a href="https://t.co/0eHqQGL3LO">pic.twitter.com/0eHqQGL3LO</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1859560640869806344?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429878/dogecoins-active-users-on-the-rise-will-this-impact-doge-price">Dogecoin&#8217;s Active Users On The Rise, Will This Impact DOGE Price?</a></figcaption></figure>
Why It Matters: Historically, Dogecoin's price has been highly susceptible to whale activity, prompting heightened attention from the crypto community.
Dogecoin, created in 2013 as a joke, has gained significant traction thanks to endorsements from figures like Elon Musk. Despite its origins, the cryptocurrency now ranks among the top digital assets by market capitalization.
The meme coin remains a popular choice for retail investors, although its price volatility has led to mixed opinions among analysts. This latest whale activity underscores the ongoing interest in Dogecoin among major holders, hinting at potential shifts in market sentiment.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39871566/massive-dogecoin-moves-worth-50-million-each-spotted-on-robinhood" target="_blank" rel="noreferrer noopener">Massive Dogecoin Moves Worth $50 Million Each Spotted On Robinhood</a>

Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The Dow Jones Industrial Average gained around 2% this week, with the S&amp;P 500 and Nasdaq each rising approximately 1.7%. Despite NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surpassing analysts&#8217; expectations for Q3 earnings and revenue, its stock traded flat, leaving the market&#8217;s rebound to unfold independently of its AI momentum. 
Meanwhile, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) faced a steep decline after the DOJ pushed for Chrome&#8217;s divestiture, erasing over $120 billion in market cap on Thursday. 
On the economic side, November saw strong U.S. private sector growth, with S&amp;P Global&#8217;s PMI showing the services sector expanding at its fastest rate since March 2022, while inflation pressures eased, <a href="https://www.benzinga.com/news/global/24/11/42148498/wall-street-rebounds-without-its-ai-darlings-boost-king-dollar-maintains-dominance-while-bitcoin-defies-gravity-this-week-in-the-markets">aiding the Fed&#8217;s outlook.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/24/11/42072727/exclusive-bitcoin-advocate-anthony-pompliano-says-coinbase-is-similar-to-apple-has-something-that-cant-be-bought">EXCLUSIVE: Bitcoin Advocate Anthony Pompliano Says Coinbase Is Similar To Apple, &#8216;Has Something That Can&#8217;t Be Bought&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, features Anthony Pompliano comparing Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), emphasizing its trust and brand power as a leading crypto platform attracting new investors during a pro-crypto administration.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42097462/dogecoin-millionaire-shares-50-million-meme-coin-strategy-for-2025-pepe-brett-are-this-bull-runs-doge-shiba-inu">Dogecoin Millionaire Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run&#8217;s DOGE, Shiba Inu</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, details Glauber Contessoto&#8216;s diversified $50 million investment strategy for 2025. The strategy predicts that Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Brett (CRYPTO: BRT) will dominate the next bull market, following the success patterns of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42102652/michael-saylors-microstrategy-takes-wall-street-by-storm-becomes-second-most-traded-stock-after-nvidia">Michael Saylor&#8217;s MicroStrategy Takes Wall Street By Storm, Becomes Second-Most Traded Stock After Nvidia</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) surpassing trading volumes of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Apple Inc., finishing second to NVIDIA Corp. after a surge in Bitcoin-related (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market interest.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/24/11/42082542/supermicro-computer-shares-soar-32-as-it-avoids-nasdaq-delisting-but-analysts-are-not-convinced-heres-whats-coming-next-for-smci">Super Micro Computer Shares Soar 32% As It Avoids Getting Booted Off Nasdaq, But Analysts Are Not Convinced: Here&#8217;s What&#8217;s Coming Next For SMCI</a>
<a href="https://www.benzinga.com/general/gaming/24/11/42047265/gamestop-adds-nat-turner-to-board-does-the-move-show-bigger-bet-on-trading-cards-grading">GameStop Adds Nat Turner To Board: Does The Move Show Bigger Bet On Trading Cards, Grading?</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42096407/microsoft-one-of-the-most-compelling-investment-opportunities-says-goldman-sachs">Microsoft &#8216;One Of The Most Compelling Investment Opportunities,&#8217; Says Goldman Sachs</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/large-cap/24/11/42094649/nvidia-stock-historically-drops-in-december-after-q3-earnings">Nvidia Stock Historically Drops In December After Q3 Earnings</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights that NVIDIA Corp. has historically struggled in December, with an average 1.84% decline and only 40% of Decembers closing positive since 2014, despite strong Q3 earnings. 
&#8220;<a href="https://www.benzinga.com/general/sports/24/11/42094958/netflix-faces-class-action-lawsuit-over-streaming-crashes-during-jake-paul-mike-tyson-fight">Netflix Faces Class-Action Lawsuit Over Streaming Crashes During Jake Paul, Mike Tyson Fight</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports on Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) facing legal action for technical issues during the Jake Paul vs. Mike Tyson boxing match, which attracted over 108 million viewers, making it the most-streamed sporting event ever but resulting in service disruptions that sparked subscriber lawsuits.
&#8220;<a href="https://www.benzinga.com/24/11/42097477/muddy-waters-carson-block-is-betting-against-elf-beauty-short-seller-believes-company-is-overstating-revenue-earnings-major-red-flag">Muddy Waters&#8217; Carson Block Bets Against E.L.F. Beauty: Short Seller Says Retailer&#8217;s Financials Show &#8216;Major Red Flag&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, details Carson Block&#8216;s short position against e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>), alleging inflated revenues of $135-$190 million over three quarters, citing discrepancies between reported growth and U.S. Customs import data.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/24/11/42097545/feds-bowman-warns-on-inflation-risks-signals-neutral-rate-may-be-closer">Fed&#8217;s Bowman Warns On Inflation, Says Neutral Interest Rates May Be Closer &#8216;Than We Currently Think&#8217;</a>
<a href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks">Target Q3 Earnings: Supply Chain Chaos Hits Bottomline, Slashes Annual Profit Outlook, Stock Tanks</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K: That&#8217;s The Moment Altcoins &#8216;Shoot Off&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.

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Benzinga Bulls And Bears: Coinbase, MicroStrategy, Nvidia, e.l.f. Beauty - And Dogecoin Millionaire Predicts 2025 Meme Kings

A recent <a href="https://www.youtube.com/watch?app=desktop&amp;v=d5MfEgRmnvQ">call</a> on The Ramsey Show featured a woman who <a href="https://www.benzinga.com/personal-finance/24/11/42044634/653125">opened up to Dave Ramsey</a>, admitting that despite filing for bankruptcy in 2019, she's back in debt again – to the tune of $118,000, excluding the mortgage – and her husband is completely unaware of the mess they're in.
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<h2 class="wp-block-heading">The Cost of Keeping up Appearances</h2>
&#8220;We are the poster child of <a href="https://www.benzinga.com/personal-finance/24/08/40431868/dave-ramsey-warns-the-one-money-error-youre-making-that-could-derail-your-financial-future">trying to impress people</a>,&#8221; the caller confessed. After buying a new house, she felt pressured to fill it with &#8220;nice things,&#8221; but this urge spiraled into financial chaos, leading her to open a staggering 18 credit cards to fund the lifestyle she thought they needed to maintain.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jo and her husband filed bankruptcy five years ago. Now Jo has opened up 18 credit cards and is back in $118,000 of debt, and her husband is not involved in their finances. She called in to The Ramsey Show for advice. <a href="https://t.co/pZHyYIhkXN">pic.twitter.com/pZHyYIhkXN</a>
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1858551622634226154?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Her husband, who earns $35,000 a year, has no idea about their <a href="https://www.benzinga.com/personal-finance/24/08/40512938/dave-ramseys-blunt-advice-your-finances-are-80-behavior-avoid-this-one-costly-mistake">financial issues</a> because, as she explained, &#8220;He doesn&#8217;t even have access [to our finances].&#8221; She takes home $125,000 annually, plus another $15,000 from a side hustle, yet her spending habits have left them drowning in debt – all because of a desire to project an image of success.
The caller revealed that the $118,000 in debt was spread across various sources. She owes $1,300 to the IRS and $9,500 is tied up in "pay in 4" payment plans like PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) and <a href="https://www.benzinga.com/news/24/02/37357053/openai-backed-swedish-bnpl-company-klarnas-ai-bot-cuts-repeat-queries-by-25-boosting-profits-by-40m">Klarna</a>. The biggest portion of the debt –$116,000 – comes from online personal loans through <a href="https://www.benzinga.com/money/prosper-review">platforms like Prosper</a>. On top of that, they have a $40,000 car loan and $5,500 in credit card balances.
See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">You can still get 4,000 of its pre-IPO shares for with $1,000 for just $0.25/share</a>
This complicated mix of debt sources shows how far the situation has spiraled out of control. The buildup of loans, payment plans and credit lines has resulted in an impossible financial mess. The car loan by itself is already a big problem and with all the high-interest loans and credit card debt added on top, it&#8217;s really hard for them to make any progress without making big changes.
<h2 class="wp-block-heading">The Wake-Up Call</h2>
Like always, Ramsey didn&#8217;t sugarcoat his advice. &#8220;You&#8217;re not going to be free or heal by yourself,&#8221; he told her. The key, according to Ramsey, is teamwork. &#8220;We need two things relationally: one is you go to him and say, &#8216;Honey, we&#8217;re in a mess – again – because I didn&#8217;t say no and you weren&#8217;t involved.'&#8221;
The caller admitted that her spending habits were deeply connected to her need for validation, saying, &#8220;It comes from my childhood,&#8221; but that didn&#8217;t sway Ramsey, who responded with his signature tough love: &#8220;You&#8217;re too dead gum old and rich income-wise to act like a 14-year-old girl that needs affirmation. It&#8217;s time to be a grown woman.&#8221;
Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a>
<h2 class="wp-block-heading">A Plan to Move Forward</h2>
To get out of this financial hole, Ramsey laid out a clear but intense plan: They need to budget every month together, sell everything that isn't necessary and dramatically cut their lifestyle. &#8220;Sell everything, everything not tied down,&#8221; he said. The goal is to adopt what Ramsey called &#8220;scorched earth&#8221; living for 18 months – essentially, to live as frugally as possible and funnel every available dollar toward paying off the debt.
One of the biggest takeaways was the importance of not trying to impress others. According to Ramsey, affluent people frequently get to the point where they &#8220;don't give a crap what anybody thinks.&#8221; And for this caller, ending the debt cycle requires learning to disregard the opinions of others. &#8220;You've got to practice not having nice stuff and have people see you,&#8221; added co-host Dr. John Delony, encouraging her to confront her fears about appearances.
Image via Shutterstock
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A Dave Ramsey Caller Opened Up 18 Credit Cards After Bankruptcy And Is $118,000 In Debt 'To Impress People.' Her Husband Has No Idea

Investors have been hit with an increased amount of short reports from some of the most well-known names in the space, which could be due to high valuations for stocks or could be coming after the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">2024 presidential election results</a>.
What Happened: Over the past three months, big names in the short report space have taken on small and large companies claiming high valuations, accounting irregularities and other reasons that the stocks should trade lower.
Muddy Waters recently <a href="https://www.benzinga.com/24/11/42097477/muddy-waters-carson-block-is-betting-against-elf-beauty-short-seller-believes-company-is-overstating-revenue-earnings-major-red-flag">issued a short report</a> on e.l.f. Beauty, which was the first report from the short seller in months.
Kerrisdale Capital recently <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42092578/oklo-stock-slides-as-short-seller-sets-sights-on-altman-backed-nuclear-startup">issued a short report</a> on Oklo, its first published report since June.
Hindenburg, who has been issuing short reports on a monthly basis was the talk of the investing world when they took on technology company Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), <a href="https://www.benzinga.com/trading-ideas/short-ideas/24/08/40579899/super-micro-computer-stock-falls-on-short-report-hindenburg-says-company-has-accounting">accusing the company</a> of accounting, governance and compliance problems.
While the call was not popular at the time, given the company's soaring valuation, the stock is now down 28% over the last month after some of the alleged claims from Hindenburg were amplified<a href="https://www.benzinga.com/trading-ideas/movers/24/10/41625460/super-micro-computer-stock-dives-as-auditor-resigns-whats-going-on"> with the resignation</a> of the company's independent auditor.
Citron Research published an update on their Geo Group bullish case in September, the last post made on the company's website. However, the firm led by Andrew Left has been active on social media, with a post this week announcing the firm <a href="https://www.benzinga.com/24/11/42118133/short-seller-andrew-left-targets-microstrategy-stock-as-hedge-against-bullish-bitcoin-bet-completely-detached-from-btc-fundamentals">had shorted shares </a>of the high-flying software company and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holder MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>).
The announcement of the short report by Left comes as the investor recently <a href="https://www.benzinga.com/news/24/07/40027424/gamestop-short-seller-and-citron-founder-andrew-left-pleads-not-guilty-to-fraud-charges">pleaded not guilty</a> to fraud charges in July.
Along with the recent growth of short reports from the firms who hadn't published in awhile, there are also regular short reports coming monthly from Grizzly Research and bi-weekly reports from The Bear Cave.
Read Also: <a href="https://www.benzinga.com/news/24/11/41784498/dead-company-walking-short-seller-sets-sights-on-viasat-expects-elon-musks-starlink-to-take-share-af">&#8216;Dead Company Walking&#8217;: Short Seller Sets Sights On ViaSat, Expects Elon Musk&#8217;s Starlink To Take Share After Trump Win</a>
Why It's Important: While short reports have been a regular fixture for investors for years, both from investors who are betting against the stocks themselves with their own short positions, newer reports from the likes of The Bear Cave by Edwin Dorsey come from an investor who claims to never take stakes in the companies he writes about.
Whether short reports are being done to make profit betting against the stock or to provide public information for investors to make their own decisions on investments, the big question is why the increase in reports over the last several months.
There's likely two big reasons why.
The first big reason for the increase could be because of the narrative that short sellers and short reports will be targeted by the new White House administration.
Muddy Waters' CEO Carson Block said Elon Musk and Donald Trump have both publicly criticized short sellers in the past.
"We've already had some rhetoric, we might have some more anti-short seller rhetoric," Block told <a href="https://www.bloomberg.com/news/articles/2024-11-21/carson-block-expects-more-anti-short-seller-rhetoric-under-trump?sref=TBDibEcD">Bloomberg</a>.
Block said Republican-led administrations are often lighter on enforcement, but he's not sure if Trump will roll back regulations.
"It is a question as to who is going to head the SEC," Block added.
The comment comes as SEC Chairman Gary Gensler recently <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42120607/gary-gensler-to-step-down-as-sec-chair-on-trumps-inauguration-day">announced he will</a> step down on Trump's inauguration day, ahead of the assumption that Trump was going to replace him with a new leader.
Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), which was co-founded by Trump,<a href="https://www.benzinga.com/markets/equities/24/04/38337541/trump-media-technology-group-alleges-naked-short-selling-seeks-nasdaqs-intervention"> has targeted </a>short sellers and alleged that naked short selling is the reason the stock has fallen in price several times.
Musk, who has often publicly criticized short sellers, recently<a href="https://www.benzinga.com/news/24/07/39759646/as-tesla-ceo-elon-musk-wants-to-obliterate-short-sellers-expert-says-they-are-important-more-than-ev"> said he wanted</a> to "obliterate" short sellers.
The other reason for the increased short report volume could be due to stock market indexes trading near all-time highs and strong year-to-date gains.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, is up 26.0% year-to-date. This return is currently the fourth best in the last 10 years and the ETF could still pass the returns of 26.2% (2023), 28.8% (2021) and 31.2% (2019) to move up the list. &nbsp;
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Image: Shutterstock

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Short Sellers Are Back – Flurry Of Big Calls From Muddy Waters, Citron And Others Raises Questions: Why Now?

Recent elections across the U.S. delivered mixed results for housing initiatives, with voters showing strong support for funding affordable housing while remaining skeptical of rent control measures, according to an analysis by Redfin Chief Economist Daryl Fairweather.
Rhode Island became a standout success story, with voters overwhelmingly approving a record-breaking $120 million housing bond. The measure, nearly doubling the state&#8217;s previous housing investment from three years ago, signals growing public recognition of the housing crisis.
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Several major cities also secured funding for affordable housing initiatives. Los Angeles voters approved a new half-cent sales tax for housing development, while Charlotte, North Carolina, passed a $100 million housing bond package. Baltimore followed with a $20 million bond measure for affordable housing projects.
San Francisco&#8217;s Proposition G secured $8.25 million annually for low-income rental subsidies, though Fairweather noted it might serve as a temporary fix rather than a long-term solution. &#8220;This helps low-income renters in the short term, but without adding more housing, it&#8217;s just a Band-Aid on the problem,&#8221; she said on X, formerly Twitter.
However, not all housing measures succeeded. Denver voters narrowly rejected Ballot Issue 2R, which would have generated $100 million annually through a sales tax increase for new housing development. California saw the defeat of two significant proposals: Proposition 33, which would have loosened rent control restrictions and Proposition 5, which aimed to lower the supermajority threshold for housing bonds.
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The rejection of rent control measures extended beyond California. Hoboken, New Jersey voters struck down a proposal to raise rent caps on vacant units. Fairweather views the outcomes as potentially positive for housing supply, stating, &#8220;strict rent control keeps existing tenants happy but limits new investment and leads to fewer rentals in the long run.&#8221;
Local initiatives employed various approaches to raise housing funds. According to the Institute on Taxation and Economic Policy, communities used diverse funding mechanisms, including sales taxes in Lawrence, Kansas, real estate transfer taxes in Berkeley and Mountain View, California and lodging taxes in several Colorado municipalities.
Berkeley bucked the trend against rent control by approving Measure BB&#8217;s 5% rent cap. However, Fairweather and <a href="https://www.benzinga.com/personal-finance/24/08/40101676/nearly-50-economists-were-asked-how-they-feel-about-president-bidens-5-rent-cap-this-is-what-the">other economists suggest rent control measures could discourage future development</a>. "The best way to stabilize rents is to build more homes," Fairweather said.
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The election results demonstrated that voters recognize the need for housing investment while remaining divided on policy approaches. While many communities showed willingness to fund affordable housing initiatives, rejecting certain measures highlights ongoing debate about the most effective solutions to address housing affordability.
Fairweather emphasized that while the Federal government <a href="https://www.benzinga.com/real-estate/24/11/41968915/will-trumps-second-term-unlock-housing-lower-rates-more-development-on-the-table-experts-say">can aid in the housing crisis</a>, &#8220;local initiatives have a profound impact on the housing market, even if they don&#8217;t make national headlines.&#8221; The mix of successful and failed measures indicates that while voters broadly support addressing housing affordability, they remain selective about specific policy solutions and funding mechanisms.
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2024 Election Housing Measures: What Passed, What Failed And What It Means For Supply, According To Redfin Chief Economist

Spirit Airlines has filed for Chapter 11 bankruptcy, a strategic move to stabilize its <a href="https://www.benzinga.com/personal-finance/24/08/40512938/dave-ramseys-blunt-advice-your-finances-are-80-behavior-avoid-this-one-costly-mistake">finances </a>while keeping operations running smoothly. Known for its ultra-low-cost business model, the airline has faced mounting challenges, including over $1 billion in deferred debt, a $158 million quarterly loss this year and failed merger efforts with JetBlue and Frontier Airlines.&nbsp;
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According to a company statement, Spirit's restructuring plan involves $300 million in new financing and $350 million in equity investments from bondholders, which will slash nearly $795 million in debt. The airline expects to emerge from bankruptcy by early 2025.
CEO Ted Christie assured passengers that the restructuring would not affect flights and bookings in an open letter to customers. "You can continue to book and fly confidently now and in the future," Christie said. Spirit has pledged to maintain ticket sales, flights and loyalty programs without disruption throughout the process.
Spirit's financial woes didn't develop overnight. According to CNBC, the airline hasn't turned a profit since 2019, when it lost $335 million. The COVID-19 pandemic significantly affected travel demand, hitting Spirit's operations hard.&nbsp;
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The recall of Pratt &amp; Whitney engines in 2023 further strained the airline by disrupting fleet availability, while rising fuel costs and stiff competition from larger carriers put additional pressure on margins.
Regulatory hurdles compounded these challenges. In January, U.S. courts blocked Spirit's $3.8 billion merger with JetBlue, citing concerns about reduced competition in the budget travel market.&nbsp;
Analysts warn, however, that more drastic measures, such as cutting routes or reducing flight frequencies, could still be necessary. Statista reported that Spirit's total flight capacity declined by 33% to 27.7 billion available seat miles between 2019 and 2020.
TD Cowen's senior research analyst, Helane Becker, told CNBC, &#8220;Spirit Airlines' goal should be to preserve value as much as they can."
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In response to its financial struggles, Spirit has begun implementing cost-saving measures. The Associated Press reported that the airline plans to sell 23 older planes for $519 million and cut jobs, saving an estimated $80 million annually.&nbsp;
The Wall Street Journal revealed that Spirit Airlines and Frontier Airlines have resumed talks about a potential merger, causing their stock prices to climb. However, <a href="https://www.benzinga.com/startups/24/10/41312615/investors-pour-billions-into-openai-whats-driving-this-unprecedented-surge-in-funding">investor </a>confidence has faltered amid these setbacks. According to CNBC, Spirit's stock price dropped from $3.22 to $1.15 after The Wall Street Journal reported that the company was set to file for bankruptcy.&nbsp;
Tom Fitzgerald, an analyst at TD Cowen, recently highlighted Spirit Airlines&#8217; precarious situation on UPI. He stated that balancing cost-cutting measures with maintaining passenger confidence is critical for the airline&#8217;s survival. He noted that customers might begin avoiding the airline if its financial struggles intensify.&nbsp;
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Debt Piles Up And Losses Mount – Spirit Airlines Finally Files For Bankruptcy After Struggling To Stay Afloat

CCC Intelligent Solutions Holdings Inc. (CCCS) Q3 2024 Earnings Call Transcript

Bank of America Securities analyst Michael Funk maintained a Buy rating on CCC Intelligent Solutions Holdings (CCCS – Research Report) today. The c...

CCC Intelligent Solutions Holdings (CCCS) Gets a Buy from Bank of America Securities

With robust demand, and the need for higher efficiency, the SAAS market is poised for continued growth and expansion. Therefore, it could be ideal to closely monitor high-growth SAAS stocks UiPath (PATH), CCC Intelligent Solutions (CCCS), and DocuSign (DOCU) for substantial benefit. Read on... The popularity of Software-as-a-Service (SAAS) is rapidly surging among organizations to boost their efficiency and adopt the latest technologies. SAAS has emerged as a prominent force in the technology and business landscape, and this trend is set to continue further as organizations deploy and use software.
Given the industry's strong outlook, investors could consider high-growth SAAS stocks UiPath Inc. (<a href="https://stocknews.com/stock/PATH/">PATH</a>), CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>), and DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>) in November.
With the rapid transformation from traditional software applications to cloud-based software services, the Software-as-a-service market is poised to expand exponentially. Companies are increasingly investing in digital transformation and adopting trends like Vertical SaaS, DaaS, and iPaaS in order to boost their operational efficiency, cost-effectiveness, and versatility.
<a href="https://www.gartner.com/en/newsroom/press-releases/2024-05-20-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-surpass-675-billion-in-2024#:~:text=SaaS%20spending%20is%20projected%20to,consumption%20model%2C%E2%80%9D%20said%20Nag.">Gartner projected worldwide end-user spending</a> on public cloud services to increase by 20.4%, reaching $675.4 billion this year, driven by generative AI (GenAI) and application modernization.
Also, SaaS continues to dominate the cloud market in end-user spending, having a projection of 20% growth in spending to reach $247.2 billion in 2024.
Following these lucrative trends, the global Software as a Service (SaaS) market is expected to grow from $317.55 billion in 2024 to $1.23 billion by 2032, exhibiting growth at a <a href="https://www.fortunebusinessinsights.com/software-as-a-service-saas-market-102222">CAGR of 18.4%</a>. In global comparison, the U.S. SaaS market is anticipated to grow to $236.69 billion by 2032, driven by the adoption of public and hybrid cloud-based tools.
With growing needs, companies engaged in SAAS services are positioned to capitalize on the industry's bright prospects and will yield high growth in the long run. Thus, investors could scoop up high-growth SaaS companies' stocks to advance their portfolios.
Now, let's take a closer look at the fundamentals of the top <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> stocks mentioned above, beginning with the third choice.
Stock #3: UiPath Inc. (<a href="https://stocknews.com/stock/PATH/">PATH</a>)
PATH provides an end-to-end automation platform offering a diverse range of international robotic process automation (RPA) solutions. It provides a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.
On October 22, PATH announced a strategic partnership with Inflection AI to integrate the UiPath Platform with the new Inflection for Enterprise solution, enabling enterprises to achieve greater levels of operational efficiency and effectiveness without compromising trust and AI security options.
The strategic partnership will integrate Inflection AI within UiPath Autopilot and provide an important private cloud alternative for agentic automation tailored to the industries.
On October 15, PATH announced the integration of the UiPath Platform with the SAP Build Process Automation solution, to be sold as one of the SAP Solution Extensions. The offering will enable true enterprise-wide transformation by allowing customers to embrace a holistic view of automation across heterogeneous environments that span both SAP and non-SAP systems.
For the second that ended July 31, 2024, PATH's total revenue increased 10.1% year-over-year to $316.25 million. Its non-GAAP <a href="https://www.investopedia.com/terms/g/grossprofit.asp#:~:text=Gross%20profit%2C%20or%20gross%20income,fluctuate%20compared%20to%20production%20output.">gross profit</a> grew 6.6% from the year-ago value to $263.18 million. Also, the company's non-GAAP net income amounted to $23.76 million or $0.04 per share for the quarter, respectively.
Furthermore, as of July 31, 2024, the company's non-GAAP adjusted free cash flow was $149.78 million.
Analysts expect PATH's revenue and EPS for the fiscal year (ending January 2026) to increase 11.3% and 10.5% year-over-year to $1.58 billion and $0.44, respectively. Further, the company has topped the consensus revenue and EPS estimates in all four trailing quarters.
PATH's stock has surged 3.1% over the past three months to close the last trading session at $12.70.
PATH's solid outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Growth and Quality. Within the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry, PATH is ranked #11 among 18 stocks.
<a href="https://stocknews.com/stock/PATH/">Click here</a> to access additional ratings of PATH (Stability, Value, Sentiment, and Momentum).
Stock #2: CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>)
CCCS operates as a software-as-a-service company for the property and casualty insurance economy. Its cloud-based SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence-enabled digital workflow across the insurance economy.
On September 4, CCCS launched CCC&#xAE; Payroll, a new solution designed to streamline payroll management for collision repair shops. CCC Payroll is integrated into the CCC ONE&#xAE; platform and enables shops to track production and labor and streamline payroll within a single system, simplifying the payroll process.
The new solution simplifies the payroll process and gives greater visibility to employees.
On July 30, CCCS unveiled CCC&#xAE; Intelligent Reinspection, a new solution designed to help auto insurers streamline the review of incoming repair facility estimates, expediting repairer workflows and claims resolutions. The new solution leverages AI technology, and identifies areas for review, and provides reason codes based on insurer rules, helping reinspectors.
For the third quarter that ended on September 30, 2024, CCCS' revenues increased 7.8% year-over-year to $238.48 million. Its adjusted gross profit rose 8% from the prior year's period to $185.93 million. The company's adjusted operating income of $91.19 million reflects growth of 10.3% from the previous year's quarter.
Furthermore, the company's adjusted net income stood at $62.58 million and $0.10 per share, up 9.5% and 11.1% year-over-year, respectively. Its adjusted EBITDA increased 9.3% from the year-ago value to $101.55 million.
Analysts expect CCCS' revenue for the fourth quarter (ending December 2024) to increase 7.3% year-over-year to $245.23 million. For the same period, its EPS is expected to grow 8% year-over-year to $0.10. Further, the company topped the consensus revenue and EPS estimates in all trailing four quarters, which is remarkable.
Over the past year, the stock has gained 2.3% to close the last trading session at $10.93.
CCCS' sound fundamentals are reflected in its POWR Ratings. The stock has an overall grade of A, translating to a Strong Buy in our proprietary rating system.
CCCS has a B grade for Momentum, Stability, Sentiment, and Growth. It is ranked #4 among the 18 stocks within the A-rated Software - SAAS industry.
To see the other ratings of CCCS for Quality and Value, <a href="https://stocknews.com/stock/CCCS/">click here</a>.
Stock #1: DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>)
DOCU provides electronic signature solutions internationally. The company provides an e-signature solution, enabling the sending and signing of agreements on various devices, Contract Lifecycle Management (CLM), Document Generation streamlines the process of generating new, custom agreements, and Gen for Salesforce.
On June 4, DOCU launched a new connector for SAP Ariba solutions that automate workflows between Docusign CLM and SAP Ariba solutions to help businesses accelerate time to value and eliminate friction in source-to-pay agreement processes. The launch enhanced DOCU's market position and firmly established the company as a leader.
On May 31, DOCU acquired Lexion, a leading AI-powered agreement management company. The acquisition strengthened DOCU's position in Intelligent Agreement Management (IAM) and added more AI-assisted capabilities to its platform, bringing more insights, analysis, and automation to its customers.
DOCU's total revenues increased 7% year-over-year to $736.03 million during the second quarter that ended on July 31, 2024. It reported non-GAAP income from operations of $237.16 million, indicating growth of 39.6% year-over-year. The company's non-GAAP free cash flow grew 7.8% from the year-ago value to $197.93 million.
Additionally, the company's non-GAAP net income came in at $200.99 million and $0.97 per share, up 34.3% and 34.7% from the prior year's quarter, respectively.
According to the company's fiscal year 2025 outlook, DOCU expects total revenue between $2.94 billion and $2.95 billion, while it forecasts subscription revenue to range from $2.86 billion to $2.88 billion.
For the third quarter (ending October 2024), analysts expect DOCU's revenue to grow 6.4% year-over-year to $745.32 million. For the same period, the company's EPS is expected to increase 10.6% year-over-year to $0.87. Also, it has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
DOCU's stock has surged 22.9% over the past six months and 80.9% over the past year to close the last trading session at $70.15.
DOCU's POWR Ratings reflect its promising prospects. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
DOCU has an A grade for Quality and a B grade for Growth and Value. It is ranked #2 among 18 stocks in the same industry.
In addition to the POWR Ratings I've just highlighted, you can see DOCU's ratings for Stability, Momentum, and Sentiment <a href="https://stocknews.com/stock/DOCU/">here</a>.
What To Do Next?
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<hr />
DOCU shares were trading at $68.98 per share on Wednesday afternoon, down $1.17 (-1.67%). Year-to-date, DOCU has gained 16.03%, versus a 23.16% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/docu-path-cccs-3-high-growth-saas-stocks-to-watch-in-november/>3 High-Growth SaaS Stocks to Watch in November</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High-Growth SaaS Stocks to Watch in November

CCC Intelligent Solutions Holdings ( ($CCCS) ) has provided an announcement. CCC Intelligent Solutions Holdings Inc. has appointed Neil E. de Cresc...

CCC Intelligent Solutions Names New Independent Director

Morgan Stanley analyst Josh Baer upgraded CCC Intelligent Solutions (CCCS) to Overweight from Equal Weight with a price target of $15, up from $14....

CCC Intelligent upgraded to Overweight from Equal Weight at Morgan Stanley

The cloud computing industry is growing rapidly, driven by the increasing demand for scalable, cost-effective solutions. Amid this backdrop, it might be wise to consider affordable cloud stocks like CCC Intelligent Solutions (CCCS), Twilio (TWLO), and DocuSign (DOCU), which have solid growth potential. Read more… Businesses across industries are transitioning to cloud-based services to enhance operational efficiency and reduce costs. This makes the cloud tech sector primed for outsized growth. Therefore, investors looking for an opportunity to capitalize on the sector's growth prospects might consider cloud tech stocks CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>), Twilio Inc. (<a href="https://stocknews.com/stock/TWLO/">TWLO</a>), and DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>), which are trading under $100 but possess immense growth prospects.
Analysts are increasingly optimistic about cloud stocks, citing their ability to deliver sustainable returns. Moreover, Trump's return to administration means <a href="https://www.fierce-network.com/cloud/what-trump-win-means-cloud-policy">more mergers and acquisitions for cloud players</a>. Gartner forecasts worldwide end-user spending on public cloud services to <a href="https://www.gartner.com/en/newsroom/press-releases/2024-05-20-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-surpass-675-billion-in-2024#a__text_Worldwide_20end_2Duser_20spending_20on_247_2C203">grow 20.4% year-over-year in 2024</a>, amounting to $675.4 billion.
According to Statista, the global software as a service (SaaS) market is anticipated to reach $793.10 billion by 2029, <a href="https://www.statista.com/outlook/tmo/public-cloud/software-as-a-service/worldwide">exhibiting a CAGR of 19.3%</a>, further underscoring how the cloud tech sector is set to become more integral to global business operations.
Given this backdrop, let's take a closer look at the fundamentals of the three <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> stocks, beginning with the third choice.
Stock #3: CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>)
CCCS provides a SaaS platform for the property and casualty (P&amp;C) insurance economy. The company's cloud-based software serves as a service platform connecting trading partners, facilitating commerce, and enabling digital workflow across the platform through artificial intelligence.
On September 4, CCCS launched CCC&#xAE; Payroll, a new solution designed to streamline payroll management for collision repair shops. This new solution will enable shops to track production and labor within a single system, the CCC ONE&#xAE; Platform, simplifying the process and enhancing transparency.
On July 30, the company launched CCC&#xAE; Intelligent Reinspection, a new solution designed to help auto insurers streamline the review of incoming repair facility estimates, expediting repairer workflows and claims resolutions. This new solution will use AI-powered analysis and audit capabilities to assess incoming shop estimates based on insurer-provided rules.
CCCS' revenues for the third quarter (ended September 30, 2024) increased 7.8% year-over-year to $238.48 million. It reported an adjusted gross profit of $185.93 million, up 8% year-over-year, with a gross profit margin of 77% (up 300 bps).
The company's adjusted <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> came in at $62.58 million and $0.09 per share, up 9.5% and 11.1% year-over-year, respectively. Also, its adjusted EBITDA increased 9.3% year-over-year, amounting to $101.55 million. CCCS' free cash flow rose 6.4% from the year-ago value to $49.38 million.
As per the business outlook for the fiscal year 2024, CCCS forecasts revenue to be between $941 million and $945 million. The company also expects adjusted EBITDA to range from $394 million to $396 million.
Street expects CCCS' revenue for the fiscal fourth quarter (ending December 2024) to increase 7.3% year-over-year to $245.23 million. Its EPS for the same period is expected to register an 8.3% growth from the prior year, settling at $0.10. In addition, it surpassed the consensus revenue and EPS in each of the trailing four quarters, which is excellent.
Over the past three years, CCCS' revenue grew at a CAGR of 11.6%.
Over the past three months, the stock has gained 12%, closing the last trading session at $11.77.
CCCS' <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its promising outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
CCCS' has a B grade for Growth and Stability. It is ranked #9 out of 18 stocks in the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry. <a href="https://stocknews.com/stock/CCCS/">Click here</a> to see the other CCCS ratings for value, momentum, sentiment, and quality.
Stock #2: Twilio Inc. (<a href="https://stocknews.com/stock/TWLO/">TWLO</a>)
TWLO provides a customer engagement platform comprising international communications application programming interfaces. It operates through two segments: Twilio Communications and Twilio Data &amp; Applications.
On October 1, TWLO and OpenAI collaborated to integrate OpenAI's Realtime API into its platform. This integration will enable TWLO to build conversational AI applications and agents, which will bring customers more natural interactions to the platform.
On September 9, TWLO announced expanded accessibility of Rich Communication Services (RCS) messaging via its Programmable Messaging and Verify APIs to enhance branded and verified messaging and build customer trust in its source.
In the fiscal third quarter that ended on September 30, 2024, TWLO's revenue increased 9.7% year-over-year to $1.13 billion with a GAAP gross margin of 51% (up 100 bps year-over-year). The company reported non-GAAP income from operations of $182.42 million, indicating a 33.7% increase from the prior-year quarter.
TWLO's non-GAAP net income came in at $163.92 million, up 53.6% year-over-year, while its non-GAAP net income per share grew 75.9% from the year-ago value to $1.02.
According to the financial guidance for fiscal year 2024, the company's non-GAAP income from operations is projected to be between $700 million and $710 million, with organic revenue growth anticipated to range from 7.5% to 8%.
The consensus revenue estimate of $1.16 billion for the fiscal fourth quarter (ending December 2024) represents a 7.8% increase year-over-year. The consensus EPS estimate of $1 for the same quarter indicates a 16.6% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Moreover, TWLO's revenue has grown at CAGRs of 19.4% and 33.9% over the past three and five years, respectively. In addition, its total assets increased at 14.5% CAGR over the past five years.
Shares of TWLO have surged 59.1% over the past three months and 57.9% over the past nine months to close the last trading session at $96.59.
It's no surprise that TWLO has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Growth and a B for Value and Sentiment. Out of 18 stocks in the same A-rated industry, TWLO is ranked #8.
Beyond what is stated above, we've also rated TWLO for Momentum, Stability, and Quality. Get all TWLO ratings <a href="https://stocknews.com/stock/TWLO/">here</a>.
Stock #1: DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>)
DOCU provides cloud-based electronic signature solutions that enable sending and signing agreements, allowing organizations to do business faster with less risk and at a lower cost. It also offers contract lifecycle management software that automates workflows.
On June 4, DOCU announced the launch of a new connector for SAP Ariba solutions that will help automate workflows between DOCU's CLM and SAP Ariba, streamlining the source-to-pay process. This launch should enhance DOCU's market position and firmly establish the company as a leader.
For the second quarter of 2025, which ended on July 31, DOCU's total revenues increased 7% year-over-year to $736.03 million. Its non-GAAP income from operations stood at $237.16 million, indicating a 39.6% growth from the prior-year quarter.
DOCU's non-GAAP net income rose 34.3% from the year-ago value to $200.99 million, while its non-GAAP net income per share stood at $0.97, up 34.7% year-over-year. Also, the company's non-GAAP free cash flow grew by 7.8% from the year-ago value to $197.93 million.
Per the outlook for fiscal year 2025, DOCU expects its total revenue to be between $2.94 billion and $2.95 billion. It forecasts subscription revenue to range from $2.86 billion to $2.88 billion, with billings between $2.99 and $3.03 billion. Additionally, DOCU expects its non-GAAP operating margin to fall in the range of 29% to 29.5%.
Analysts expect DOCU's revenue for the third quarter ended October 31, 2024, to increase 6.4% year-over-year to $745.32 million, while its EPS for the same period is expected to grow 10.6% from the prior-year quarter to $0.87. The company surpassed street revenue and EPS estimates in each of the trailing four quarters, which is impressive.
DOCU's revenue has grown at CAGRs of 16.8% and 28.1% over the past three and five years, respectively. Likewise, the company's levered FCF has increased at a CAGR of 36.9% over the past five years.
DOCU shares have surged 82.4% over the past year and 53.6% over the past nine months to close the last trading session at $79.11.
DOCU's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade for Quality and a B for Growth and Value. Within the Software - SAAS industry, it is ranked #3. <a href="https://stocknews.com/stock/DOCU/">Click here</a> to see DOCU's ratings for Momentum, Stability, and Sentiment.
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DOCU shares were trading at $78.43 per share on Monday morning, down $0.68 (-0.86%). Year-to-date, DOCU has gained 31.93%, versus a 24.45% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/docu-twlo-cccs-3-affordable-cloud-tech-stocks-with-high-growth-potential/>3 Affordable Cloud Tech Stocks With High Growth Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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